For the each scenario below, identify: PLEASE SHOW YOUR STEPS

a) Investment goal

b) Type of investment account recommended (i.e., RRSP, TFSA, RESP, non-registered, etc.)

c) Asset allocation of the portfolio and why this is appropriate

d) Other aspects you would need to consider that are not specifically noted

Scenario 1:

Andre finished school about a year ago and has been working full-time for 8 months. He is still living with his parents but is looking to move out and buy his own condo. He wants to move out in 5 years and needs to save $45,000 for the down payment. He can save $400 / month. He has been saving in an RRSP account and it has a current balance of $12,000. He stopped making contributions to this account because his employer provides a Group RRSP. Andre makes contributions from his paycheque directly in the amount of $100 and his employer matches the contribution at a rate of 50%. He qualifies as a first time home buyer.

Scenario 2:

Steve and Rebecca have 2 small children ages 3 and 4. They have moved to the suburbs and bought a house to provide enough space for their kids to run around and burn energy so that they have time to binge watch their TV shows. They have a sizable mortgage of $720,000 on the home. They earn a combined take home salary of $225,000. They want their kids to pursue post-secondary education but dont expect either of the children will get a scholarship, so they need to save up $100,000. Their best friend is a financial planner and helped them finance a new SUV. The monthly loan payments are $125. Even with their large salary they are worried about their ability to repay the car loan, save for their kids education and have the mortgage paid off by retirement, which is 27 years away. It seems like a long time, but monthly income just seems to disappear, and their debts dont! They have the following investment portfolios:

Joint bank account	9,200
Steve Non-registered account
150 shares of BCE	9450
Rebecca TFSA
High interest Savings	1200
Non-redeemable GIC 25SEP2022 maturity 1.75%	3000
Total TFSA = 4,200
Steve RRSP
Canadian Balanced ETF	15150
US Equity ETF	28650
Canadian Income Fund	50000
Total RRSP = 93,800
Rebecca RRSP
Cash	500
Cashable GIC maturing 25DEC2020	5000
High Yield Fixed Income	15000
Global balanced	12580
Canadian short-term fixed income	22569
Canadian fixed income	15789
Total RRSP = 71,438
Family RESP Account
Cash	200

Scenario 3:

Dan and Anca are both 36 and married. They are both social workers working at a local non-profit that specializes in helping immigrants settle into life in Canada. They live in Thunder Bay and both earn $45,000 per year. They immigrated to Canada when they were 24 and recently became citizens. They enjoy the quiet nature around Thunder Bay and dont ever plan on leaving. They just finished paying off student loans so collectively have approximately $600 each month they can start saving towards retirement. They dont plan to have a pension so will need to rely on government programs and their own savings to fund their retirement. They are not particularly keen on risk because they came from a country with high inflation and economic uncertainty, but they know they need to invest their money if they ever hope to retire.